Contingencies are conditions that must be met before a sale can close.
Common Contingencies Include:
Financing Contingency
Allows the buyer time to secure financing.
Inspection Contingency
Allows the buyer to inspect the property.
Appraisal Contingency
Protects the buyer if the property appraises below the purchase price.
Home Sale Contingency
Allows the buyer time to sell another property before purchasing yours.
Contingencies are common and should be carefully reviewed before accepting an offer.